Yen appears to be accelerating lower after the minimal retrace made when I last updated this chart a few weeks ago. I'm assuming this is the early stages of (iii) of [v] or [c] down. Minor support being tested now at 0.008994 though I don't think it will be very firm. Prefer lower targets at 0.008789 or 0.008643 before a more substantial bounce.
Yen has dropped steadily from the wave (e) of a triangle target of 90.41. So far, no complaints as it has been on plan. FXY has tested support at 86.71 with the Lomb pulled down where it is...
The expected reversal may have begun
This is a quick update for our newsletter readers, following up on our July 14 email about the Yen and related ETF. A rejection of the spring/summer rally appears likely, and we can now point to...
out of an Elliott wave triangle
We're looking at how the upcoming currency moves might play out for the Japanese Yen and the related ETF.
This post with exclusive charts and content is just for readers of our emailed newsletter. It shows how the Yen and the related ETF appear to be on the verge of breaking out of a multi-year triangle...
This spring might see a downward cascade
Two ways a decline might play out
Price is putting stress on a supportive trend line, forcing a squeeze between support and resistance.